Treasury bonds were dimmer on a day that saw U.S. equities suffer setbacks, while oil surged 0.4%. The S&P 500 Index lost 0.4%, the Dow Jones Industrial Average declined 0.4%, while the Nasdaq Composite ended the day 0.3% lower.
Thursday saw plenty of large companies release their quarterly earnings data, including American Express Company (NYSE:AXP), International Business Machines Corp. (NYSE:IBM) and Skyworks Solutions Inc (NASDAQ:SWKS).
Here’s what happened yesterday:
American Express Company (AEP)
American Express reported its earnings yesterday.
The company announced that it earned 91 cents per share, missing the consensus estimate of 98 cents per share. Net income fell 8% year-over-year to $825 million.
Revenue did manage to top Wall Street’s projections of $7.95 billion. American Express raked in $8.02 billion over the three months.
However, the company insists that it was a good period that set the stage for a better future, as the company is reducing costs in order to improve its operating efficiency.
For its full-year results, American Express expects to earn between $5.60 per share to $5.80 per share in 2018. Analysts had called for earnings of $5.61 per share.
AXP shares dipped 1.6% after hours Thursday.
International Business Machines Corp. (IBM)
IBM also released its quarterly results Thursday.
It was a good day for shareholders, as the tech giant announced non-GAAP earnings of $5.01 per share, topping the consensus estimate by 13 cents per share.
Overall, IBM pulled in more than what analysts were predicting in at $21.77 billion in net sales. Wall Street was expecting revenue of $2.66 billion.
For the fiscal year, the company earned $13.59 per share. Working as a cognitive solutions and cloud platform company has been great for IBM, according to CEO Ginni Rometty.
For fiscal year 2017, IBM expects to have non-GAAP earnings of $13.80 per share.
IBM stock dipped 2.3% after the bell.
Skyworks Solutions Inc (SWKS)
Skyworks Solutions was the big winner of the afternoon Thursday.
Also unveiling its quarterly results, the company revealed that it brought in revenue of $914.3 million, which topped projections by $11.62 million.
Earnings came in at $1.61 per share, beating the $1.58 per share that estimate called for. Operating income amounted to $354.3 million, while cash flow from operations came in at $495.9 million.
Skyworks Solutions also announced a quarterly dividend offering on Thursday. Those with a stake on the company as of Thursday, Feb. 2 will receive a dividend of 28 cents per share.
This amounts to a $1.12 dividend on an annualized basis with a yield of 1.4%.
SWKS stock popped 7.7% after the bell yesterday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
